Crowdfunding : tax issues and strategies

Resource Information

The work Crowdfunding : tax issues and strategies represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.

Label

Crowdfunding : tax issues and strategies

Creator

• Bowler, C
• Schmidt, D

Subject

• charities
• crowdfunding
• tax planning

Language

eng

Summary

Crowdfunding is the process of asking a large number of people to contribute money to fund a particular activity. Typically, fundraisers do this via the Internet through a third-party intermediary called a "platform". Crowdfunding campaigns vary widely and include endeavours such as donating to a charity, covering personal expenses, funding a creative project, or raising debt or equity capital for a startup business (among a host of other causes). Crowdfunding is a multi-billion dollar industry that is growing at a rapid rate. This article discusses several tax issues related to crowdfunding, especially the issue of whether contributed funds constitute taxable income. It also provides useful tax planning strategies for tax practitioners whose clients participate in crowdfunding activities

Citation source

In: Practical tax strategies. - Hoboken. - Vol. 99 (2017), no. 3 ; p. 20-28

Geographic coverage

North America

Language note

English